Funds Talk: June 2020

Topics covered in this issue include:

• Commercial Leases in New York: Enforcement Is on Pause, but Negotiations Should Be Ongoing
  While eviction proceedings are still suspended in New York courts, contracts — and the obligations they created — still exist. Landlords, tenants and any fund with an interest in the contract should be aware that even force majeure clauses often do not excuse tenants’ obligations to pay.
  
  

• COVID-19 Implications for the OTC Derivatives Markets
  For OTC derivatives market participants, COVID-19 raises a number of considerations that firms should take into account as they develop risk management strategies and adapt to ongoing developments. This article addresses a number of issues for market participants to consider.
  
  
• SEC Proposes New Valuation Framework for Funds and BDCs
  Section 2(a)(41)(B) of the 1940 Act requires that portfolio securities without readily available market quotations be valued at “fair value as determined in good faith by the board of directors.” This article focuses on the SEC’s recent vote to propose Rule 2a-5, establishing a new framework for funds’ fair value determinations.
  
  
• New York SHIELD Act: What New Data Security Requirements Mean for Your Business
  This article examines the various data security measures businesses, regardless of their location, must implement if they own or license any computerized data that includes private information of a resident of New York.
  
  
• Planning for What’s Next: Returning to the Workplace During COVID-19
  Employers everywhere are facing unprecedented challenges as they plan to reopen workplaces in the coming weeks and months in the midst of the COVID-19 pandemic. This alert will help employers navigate the difficult issues involved in planning and implementing a successful and safe return to the workplace.